Encyclopedic Dictionary of International Finance and Banking Phần 10 docx

Sun All twelve calendar months GLOBEX2: First four consecutive calendar months and the next two months in the March quarterly cycle $10.00/pt $5.00Certain transactions: Trading halted wh

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Central Banks and International Offshore Financial Centers

USEFUL INTERNATIONAL BUSINESS AND FINANCE WEBSITES

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USEFUL WEBSITES FOR OPTIONS AND FUTURES

The following is a list designed to educate the investor on the rewards and risks associated with investing options, futures, and financial derivatives.

Exchange (CBOE)

options

strategies and market analyses

financial futures as well as the corresponding historic price charts

options and other derivatives; its beginners corner is for new investors

and index options

to other option sites

for beginners

information on the regulation and trading of futures

futures trading

USEFUL WEBSITES FOR OPTIONS AND FUTURES

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WORLD CENTRAL BANKS

Argentina Banco Central de la Republica Argentina

Benin Banque Centrale des Etats de l’Afrique de l’Ouest

Bosnia Central Bank of Bosnia and Herzegovina

Burkina Faso Banque Centrale des Etats de l’Afrique de l’Ouest

Côte d'Ivoire Banque Centrale des Etats de l’Afrique de l’Ouest

East Caribbean The East Caribbean Central Bank

El Salvador The Central Reserve Bank of El Salvador

Guinea Bissau Banque Centrale des Etats de l’Afrique de l’Ouest

Macedonia National Bank of the Republic of Macedonia

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Netherlands Bank van de Nederlandse Antillen

Niger Banque Centrale des Etats de l’Afrique de l’Ouest

Senegal Banque Centrale des Etats de l’Afrique de l’Ouest

Singapore Monetary Authority of Singapore

South Africa The South African Reserve Bank

Switzerland Schweizerische Nationalbank

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MONETARY UNITS

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MONETARY UNITS

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MONETARY UNITS

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Country, Island,

MONETARY UNITS

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Minimum Fluctuation

in Price Limit

Strike Price Interval/Notes

GLOBEX2:

2:30 p.m.–

7:05 a.m

Mon–Thurs 5:30 p.m.–

7:05 a.m Sun

Mar, Jun, Sep, DecGLOBEX2:

First six quarterly months

(1 pt)($10.00/pt)($10.00)Certaintransactions:

0.00005

$5.00)

NO LIMIT BETWEEN 7:20 a.m.–7:35 a.m [RTH]

Expanding limits:

See rule 3004GLOBEX2: 400 points

Quarterly, serial months &

weekly expiration options +

AD/KA CallsAD/JA PutsWeekly Exp

Options:

1AC/5AC Calls 1AP/5AP Puts

0.0001 (1 pt) ($10.00/pt) ($10.00)

0.00005(1/2 pt)when:

• Premium <5 ticks

• Spreads w/net premium of

<5 tick value

• Nongeneric currency option combinations with total premuim of

<10 tick value

• Weekly options

Option ceases trading when corresponding futures locks limit

$/AD $0.01 intervals e.g.,

$0.76, $0.77, plus 005 intervals for the first 7 listed expirations, e.g., $0.775,

$0.780

CHICAGO MERCANTILE EXCHANGE

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Commodity

Size Hours* Months

Codes Clr/Tick

in Price Limit

Brazilian

Real

100,000 Real

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

GLOBEX2:

2:30 p.m.–7:05 a.m Mon–

Thurs 5:30 p.m.–7:05 a.m Sun

All twelve calendar months GLOBEX2:

First four consecutive calendar months and the next two months in the March quarterly cycle

($10.00/pt) ($5.00)Certain transactions:

Trading halted when primary futures contract

is locked at 0.2000 above or below the Reference RTH Price

GLOBEX2 price limit applies to all contract months

All twelve calendar months &

weekly expiration options

BRC CallsBRP PutsWeekly Exp

Options:

1RC/5RC Calls 1RP/5RP Puts

0.0001 (1 pt) ($10.00/pt) ($10.00)

0.00005(1/2 pt)when:

<5 tick value

<10 tick value

• Weekly options

Option ceases trading when corresponding futures locks limit except for options where the underlying futures contract

of the option is not subject to currency price limits

$/BR 0.01 intervals, e.g., 1.0600,1.0700, 1.0800 and for the first

7 listed expirations only additional strikes at $0.005 intervals, e.g.,

$1.08500,

$1.09000See notes

**,****,++++

GLOBEX2:

2:30 p.m.–

7:05 a.m

Mon– Thurs 5:30 p.m.–

7:05 a.m

Sun

Mar, Jun, Sep, Dec

GLOBEX2:

First six March quarterly months

0.0001 (1 pt

= $6.25)

Expanding limits:

See rule 3004 GLOBEX2: 800 points

See notes +++,**

(Continued)

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Commodity

Codes Clr/Tick

in Price Limit

British Pound

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

GLOBEX2:

2:30 p.m.–7:05 a.m Mon–

Thurs 5:30 p.m.–7:05 a.m Sun

Quarterly serial months &

weekly expiration options + GLOBEX2:

One quarterly &

two serial months

BP/CP CallsBP/PP Puts Weekly Exp

Options:

1BC/5BC Calls 1BP/5BP Puts

.0002 (2 pt) ($6.25/pt) ($12.50)

0.0001 (1 pt) when:

<5 tick value

<10 tick value

• Weekly options

Option ceases trading when corresponding futures lock limit GLOBEX2:

Same

$/BP $0.020 intervals e.g.,

$1.440, $1.460,

$1.480, etc., plus strikes at

$0.01 intervals for the first 7 listed expirations e.g., 1.43, 1.44, 1.45, etc

GLOBEX2:

2:30 p.m.–

7:05 a.m

Mon–Thurs 5:30 p.m.– :05 a.m

Sun

Mar, Jun, Sep, Dec GLOBEX2:

0.00005 (1/2

NO LIMIT BETWEEN 7:20 a.m.– 7:35 a.m [RTH]

Expanding limits:

See rule 3004GLOBEX2: 400 points

See notes +++,**

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Commodity

Codes Clr/Tick

in Price Limit

Canadian

Dollar

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

Quarterly Serial months &

One quarterly &

two serial months

C1/CV Calls

C1/PV Puts

0.0001 (1 pt) ($10.00/pt) ($10.00)

0.00005 (1/2 pt) when:

<5 tick value

<10 tick value

• Weekly options

Option ceases trading when corresponding futures locks limit GLOBEX2:

Same

$/CD $0.005 intervals e.g.,

$0.800, $0.805See note **

(9:16 a.m.)^

GLOBEX2:

2:30 p.m.– 2:00 p.m next day Mon–Thurs 5:30 p.m.–

2:00 p.m next day Sun &

Holidays

Frist six March quarterly months

0.00005 (1/2

Expanding limits: See rule

3004 GLOBEX2: 400 points

GLOBEX2:

2:30 p.m.–

7:05 a.m

next day Mon–Thurs

One quarterly &

two serial months

D1/CM Calls D1/PM Puts Weekly Exp

Options:

1DC/5DC Calls 1DP/5DP Puts

0.0001 (1 pt) ($12.50/pt) ($12.50)

0.00005 when:

<5 tick value

<10 tick value

• Weekly options

Option ceases trading when corresponding futures locks limit GLOBEX2:

Same

$/DM $0.01 intervals, e.g.,

$0.63, $0.64 plus $0.005 intervals for first

7 listed expirations e.g.,

$0.635, $0.640.See note **

(Continued)

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Commodity

Codes Clr/Tick

in Price Limit

EuroFX

125,000

Euros

RTH: 7:20 a.m.–2:00 p.m (9:16 a.m.)^

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

($12.50/pt) ($12.50) Certain transactions:

0.00005 (1/2

NO LIMIT BETWEEN 7:20 a.m.– 7:35 a.m [RTH] and 1:45 p.m.– 2:00 p.m [RTH]

Expandinglimits: See rule +++.**

Euro FX

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

March quarterly cycle

EC/EC Calls EC/EP PutsWeekly Exp

Options:

1X/2X/3X/

4X/5X

0.0001 (1 pt) ($12.50/pt) ($12.50)

For transactions

at <5 ticks 0.00005 ($6.25)

Option ceases trading when corresponding futures locks limit GLOBEX 2:

Same

$0.01 per Euro, e.g., $1.0500,

$1.0600,

$1.0700, etc., and for the first

7 listed option expirations only, additional strike prices at intervals of

2:00 p.m Sun

& Most Holidays

Mar, Jun, Sept, Dec

($6.25/pt)

$6.250.00005 (1/2 tick) ($3.125) for intracurrency spread transactions

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Commodity

Codes Clr/Tick

in Price Limit

GLOBEX2:

2:30 p.m.–

7:05 a.m

Next day Mon–Thurs 5:30p.m.–

7:05 a.m

Sun

Mar, Jun, Sep, DecGLOBEX 2:

0.00001

Expanding limits: See rule

3004 GLOBEX2:

7:05 a.m

Sun

FR/1F CallsFR/1F Puts Weekly Exp

Options:

1L/5L Calls 1L/5L2 Puts

.00002 (2 pt) ($5.00/pt) ($10.00)

when:

<5 tick value

<10 tick value

• Weekly options

Option ceases trading when corresponding futures are limit bid/offered

US$ per French Franc 0.00250 intervals, e.g., 0.18000, 0.18250, 0.18500 See note **

Japanese Yen

12,500,000

Japanese Yen

RTH: 7:20 a.m.–2:00 p.m (9:16 a.m.)^

GLOBEX2:

2:30 p.m

–7:05 a.m

Mon–Thurs5:30 p.m

–7:05 a.m

Sun

(1 pt) ($12.50/pt) ($12.50)Certain transactions:

0.000005

$6.25)

NO LIMIT BETWEEN 7:20 a.m.– 7:35 a.m [RTH]

Expanding limits:

See notes +++,**

(Continued)

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Commodity

Codes Clr/Tick

in Price Limit

Japanese Yen

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

GLOBEX2:

2:30 p.m

–7:05 a.m

Mon–Thurs5:30 p.m.–

7:05 a.m

Sun

J1/CJ CallsJ1/PJ PutsWeekly Exp

Options:

1JC/5JC Calls 1JC/5JP Puts

0.000001(1 pt) ($12.50/pt) ($12.50)

0.0000005 (1/2 pt) when:

<5 tick value

<10 tick value

• Weekly options

Option ceases trading when corresponding futures locks limitGLOBEX2:

Same

$/JY $0.0001 intervals, e.g.,

$0.0072,

$0.0071 plus

$0.00005 intervals for the first 7 listed expirations, e.g., $0.00725,

$0.00730 See note**

5:30 p.m.–

2:00 p.m

next daySun & Most Holidays

Mar, Jun, Sep, Dec

($6.25/pt) ($6.25).0000005(1/2 tick) for intracurrency spread transactions

$.0093, $.0094 Plus $.00005/¥ intervals for the first 7 listed expirations,e.g., $.00935,

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

Same

(2 1/2 pts) ($5.00/pt) ($12.50)

Expandinglimits: See rule

3004 GLOBEX2:

is locked at 0.02000 above

or below the Reference RTH

N/A

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Commodity

Codes Clr/Tick

in Price Limit

Mexican Peso

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

MPC/CallsMPP/PutsWeekly Exp

Options:

1MC/5MC Calls 1MP/5MP Puts

0.000025(2 1/2 pts) ($5.00/pt) ($12.50)

Options ceases trading when corresponding future locks limit

$/MP $0.01 intervals, e.g.,

$0.12, $0.13,

$0.14See notes **, #

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

0.00005

$5.00)

Expanding limits:

NE/NE CallsNE/NE PutsWeekly Exp

Options:

1ZC/5ZC Calls 1ZC/

5ZP Puts

0.0001 (1 pt) ($10.00/pt) ($10.00)

0.00005 (1/2 pt)when:

<5 tick value

<10 tick value

• Weekly options

Options ceases trading when corresponding futures locks limit

$0.01 per New Zealand Dollar, e.g.,

$0.70, $0.71,

$0.72 and for the first 7 listed options expirations only, additional strikes at intervals of

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

Mar, Jun,Sep, Dec GLOBEX2:

(2 1/2 pts) ($5.00/pt) ($12.50)

Expandinglimits: See rule 3004

GLOBEX2:

$.02000 per Russian Ruble

See notes +++,**

(Continued)

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Commodity

Codes Clr/Tick

in Price Limit

Russian

Ruble

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m )^

(2 Serial Mos

& Weeklies) (SeeGLOBEX2)^^^

weekly expiration options + Mar, Jun, Sep, Oct, Nov, Dec

RU/RU CallsRU/RU PutsWeekly Exp

Options:

1U,2U,3U,4U,5U

0.000025(2 1/2 pts) ($5.00/pt) ($12.50)

Options ceases trading at the same time and date as underlying futures

$0.005 per Russian Ruble, e.g., $.165,

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

All 12 calendar monthsGLOBEX2:

First 13 consecutive calendar months plus the next two March quarterly cycle months

(2 1/2 pts) ($5.00/pt) ($12.50)

NO LIMIT BETWEEN 7:20 a.m.–7:35 a.m or 1:45 p.m

to 2:00 p.m

[RTH]

Expanding limits:

See rule 3004 GLOBEX2:

is locked at 0.02500 above

or below the Reference RTH Price

N/A

South African

Rand Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

All 12 calendar months &

weekly expiration options +++++

RA/RA CallsRA/RA PutsWeekly Exp

Options:

1NC/5NC Calls 1NP/5NP Puts

0.000025(2 1/2 pts) ($5.00/pt) ($12.50)

Option ceases trading when corresponding future locks limit

$/RA at intervals

of $0.00500, e.g., $0.21500,

$0.22000 and for the first 7 listed options expirations only Additional strikes at intervals of

$0.00250, e.g.,

$0.21750,

$0.22250,

$0.22750 See notes

GLOBEX2:

2:30 p.m.–

7:05 a.m

Sun

Mar, Jun, Sep, DecGLOBEX2:

0.00005

$6.25)

Expanding limits:

See rule 3004

See notes +++,**

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Commodity

Codes Clr/Tick

in Price Limit

Strike Price Interval/Notes Swiss Franc

Options

RTH: 7:20 a.m.–2:00 p.m (2:00 p.m.)^

GLOBEX2:

2:32 p.m.–

7:03 a.m

Sun

weekly expiration options +GLOBEX 2:

One quarterly &

two serial months

E1/CF CallsE1/PF PutsWeekly Exp

Options:

1SC/5SC Calls 1SP/5SP Puts

0.0001 (1 pt) ($12.50/pt) ($12.50)0.00005(1/2 pt)when:

<5 tick value

<10 tick value

• Weeklyoptions

Option ceases trading when corresponding future locks limit

$/SF $0.01, e.g.,

$0.72, $0.73 plus $0.005 intervals for the first 4 listed expirations, e.g., $0.725,

$0.730 See note **

Notes to Contract Specifications

see Rulebook

business day immediately preceding the third Wednesday of the contract month This is 5:00 a.m Chicago time,except when Daylight Savings Time is in effect in either, but not both, London or Chicago

quarterly cycle with an expiration date most closely following the option’s expiration date For example, the December

1997 Eurodollar (Euroyen) futures contract is the underlying contract for the November 1997 options

#### Spot Butter trading occurs on the last business day of the week (usually Friday), except if a holiday falls onThursday, then trading is conducted on the business day before the holiday

3902.G and 3302.H, the Eurodollar and Libor contracts will close on the last day of trading at 11:00 a.m LondonTime on the second London bank business day immediately preceding the third Wednesday of the contract month.This is 5:00 a.m Chicago time except when Daylight Savings time is in effect in either, but not both London orChicago

S&P Midcap 400, quarterly Russell 2000, quarterly Mexican Par Brady Bond, quarterly Argentine FRB Bond,quarterly Argentine Par Brady Bond, quarterly Brazilian C Bond, quarterly Brazilian EI Bond, quarterly S&P500/BARRA Growth and quarterly S&P 500/BARRA Value, the exercise prices shall be an integer divisible by

5 In all other months, the exercise prices will be a number divisible by 2.5

**** The underlying futures contract for Brazilian Real monthly options is the futures contract with the same contractmonth as the monthly option For Brazilian Real weekly expiration options, the underlying futures contract is thenearest futures contract in the consecutive contract month cycle that has not yet terminated

(Continued)

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